04:49 GMT +326 May 2017
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    YUKOS PREDICTS RATHER HIGH GLOBAL OIL PRICES UNTIL 2010

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    MOSCOW, February 28. /RIA Novosti/. On Saturday at an expanded meeting of the Board of directors of the Yukos oil company chairman of the Board Semyon Kukes stated that the global oil prices would remain rather high until 2010.

    Kukes pointed out that "in the absence of any emergency situations oil price in the global market would stay at a comparatively high level." Daily oil production in Russia in general, according to Yukos forecasts, will reach 10,5 million barrels by 2010. Kukes stated that in 2004 Yukos planned to produce 90 million tones of crude oil.

    The chairman of the Board of the company added that "among Russian oil companies Yukos occupied the No.2 by production volume and they considered it to be a good indicator." As far as oil refining was concerned, the company planned to reach the level of 39,2 million tones in 2004.

    Kukes reported that "in comparison with the planned production growth rate, petroleum processing growth rate would be insignificant."

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